The 0.8230/35 level has seen us at the lowest point since December 2012 and we could be building for a break of the Feb 2013 support line currently at 0.8223.
EUR/GBP daily chart 20 01 2014
The bounce earlier was said to be on the back of some fixing moves at the ECB fix and we’ve been grinding lower since the run to 0.8263. The 0.8250 level is acting as support for now having broken above the 0.8245/50 level which capped moves on Friday.
I still like the support line for a long but will be wary of it breaking and will probably go with the break if it happens. The highs are getting lower in the cross and the overall trend continues to point south.
